New York, NY 10002 Real Estate Market Report
ZIP Code: 10002
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Key Findings
-
The primary market-value signal is the recent median sold price of $1,425,000, which represents the most reliable indicator of transaction-level pricing activity in the neighborhood and should be prioritized over asking prices when assessing comps; up price momentum is indicated by broader trend data.
-
There is a pronounced spread between the median listing price of $2,042,500 and the median sold price, which suggests persistent seller pricing expectations above realized transaction levels and may indicate pricing friction or negotiation room for buyers.
-
Sustained selling cycles are evident: the median days on market is 584, which implies slower sales velocity and that listings may require extended time to reach contract; this appears consistent with the neutral market temperature and suggests caution on time-sensitive pricing strategies.
-
Rental fundamentals remain strong with a median market rent of $5,600 and a rent year-over-year trend of up, while elevated interest rate pressure (elevated) continues to weigh on buyer affordability, making buy-versus-rent trade-offs and financing sensitivity primary considerations for investors and owner-occupiers.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold below market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold at market average
New York, NY 10002 Real Estate Market Report
ZIP Code: 10002
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Key Findings
-
The neighborhood's representative recent sale is the median sold price $1,425,000, which, combined with a price year-over-year trend of up, indicates mild appreciation in realized transaction values.
-
There is notable pricing friction between seller expectations and closed transactions — the median listing price $2,042,500 is meaningfully above the median sold price $1,425,000, which may indicate that some listings are priced ahead of current buyer-clearing levels.
-
Liquidity is slow: the median days on market 584 points to slower sales velocity, and this slower turnover combined with elevated inventory relative to sales activity suggests longer waits to achieve contract-to-close outcomes even as the broader market temperature remains neutral.
-
Rental demand appears firm with a median market rent of $5,850 and a rent year-over-year trend of up, but elevated interest rate pressure (elevated) continues to constrain buyer affordability and may sustain the current gap between listing and sold prices.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold below market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold at market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.3% rate, 1.1% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 5/1/2026
Get personalized market intelligence
Analyze properties in New York, NY with valuations, rental estimates, highest-and-best-use signals, and operating costs.